Manufacturing employs some 12.3 million workers in the United States. That represents about 9 percent of the workforce, says the National Association of Manufacturers (NAM).
The Institute for Supply Management (ISM) tells MHProNews that American factories powered up in June, 2017. Production centers are at their fastest pace in nearly three years, per the ISM data.
Robust advances in production, orders and employment indicate a firming in the economy, states the ISM report.
As the manufactured housing industry awaits the latest HUD Code new home shipment totals for manufactured housing for May 2017, every sector of the industry is impacted by the overall economy. So more jobs naturally spells more opportunities.
The most recent month – April 2017 – cumulative industry production for 2017 now totals 30,568 homes, an 18.5% increase over the 25,790 HUD Code homes produced over the same period in 2016 (to see the full, most recent report, click here).
Thus, the report from ISM is promising for increasing opportunities for factory-built housing industry professionals.
ISM Report Details
The Tempe, Arizona based ISM released their data as part of its Manufacturing ISM® Report On Business®.
The report included statements by Timothy R. Fiore, CPSM, C.P.M. Fiore is the chair of the ISM’s Manufacturing Business Survey Committee.
“The June PMI® registered 57.8 percent, an increase of 2.9 percentage points from the May reading of 54.9 percent,” Fiore said.
Anything above 50 is an indicator of growth, below 50 means a decline.
“The Employment Index registered 57.2 percent, an increase of 3.7 percentage points from the May reading of 53.5 percent,” Fiore stated.
The data dovetails with other positive economic indicators previously reported by the Daily Business News.
MHARR has been cautiously optimistic about the Trump Administration, while noting the various regulatory and intra-industry challenges that need to be navigated.
The Daily Business News industry connected stock market report also has recently produced a 1 year market snapshot. That report indicated that almost every tracked stock has been growing since Donald Trump won the race for the Oval Office last November. That 1 year, post-election snapshot report, is linked here. ##
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Submitted by Soheyla Kovach to the Daily Business News on MHProNews.com.